Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop, a virtual event, on Tuesday and Wednesday, May 11-12. This workshop was conducted in person for many years and has trained more than 1,000 individuals within the steel industry. We took the workshop into our virtual platform in […]
Steel Market Update will conduct our next Steel 101: Introduction to Steel Making & Market Fundamentals workshop, a virtual event, on Tuesday and Wednesday, May 11-12. The Steel 101 steel training workshop was conducted in person for many years and has trained more than 1,000 individuals within the steel industry. We took the workshop into […]
This report examines the import share of sheet, plate, long and tubular products. As of December 2020, imports’ share of total sheet products was 12.3%, up from 11.4% in November. The increase, albeit marginal, is notable as it’s the first increase for imports after declining for seven consecutive months following the most recent peak of 16.6% in […]
U.S. steel imports are on the upswing. December steel import figures were finalized at 1.50 million net tons, up 9% from one month prior and up 18% over September’s 11-year low of 1.26 million tons. January import licenses are up 47% from the month prior to 2.20 million tons, the highest monthly level seen since […]
NLMK USA turned in a dismal quarter after cutting production in response to a months-long strike at the Pennsylvania mill and a dearth of duty-free slabs from the import market. Year-over-year, quarterly sales plummeted 22 percent to 370,000 metric tons and total sales for 2020 plunged 27 percent to 1.6 million MT, the company reported. […]
By CRU Senior Analyst Ryan McKinley and Analyst Dave Thewlis, from CRU’s Steel Long Products Monitor U.S. domestic long product prices rose further m/m in January, hitting multi-year highs (see chart) as limited supply met with strong demand. Buyers are increasingly relying on domestic mills to acquire material, as global prices have made importing less […]
This report examines the import share of sheet, plate, long and tubular products. As of November 2020, imports’ share of total sheet products was 11.4 percent, down from 11.8 percent in October. Imports’ share has been on a steady decline since its most recent peak of 16.6 percent this past May. The import share of […]
The upward trend in mill shipments and supply of sheet products continues, although the pace fell off as the fourth quarter carried on. After reaching bottom in June, as a result of the global pandemic, mill shipments and supply maintained a slow but steady upward trajectory through November 2020. This analysis is based on steel […]
By CRU Analyst Dave Thewlis, from CRU’s Steel Long Products Monitor U.S. long product prices continued to surge into the month of February due to ongoing market tightness and strong demand. Imports remain too costly to seriously consider for the majority of buyers, given high international steel prices coupled with costly shipping rates and tariffs. Rebar […]
By CRU Analyst Kevin Bai from CRU’s Steelmaking Raw Materials Monitor China has announced that it will remove the value-added tax (VAT) rebate it has historically applied to steel exports, alongside changes in import and export tariffs. This will increase the cost of exporting and discourage export volumes, which will help loosen a tight domestic […]
By CRU Principal Analyst James Campbell, from CRU’s Steel Long Products Monitor Global long product prices have increased to the highest level since 2008. Global supply has tightened due to production cuts and changes to export tax rebates in China. Demand is strong in many regions, but Covid-19 outbreaks and seasonal patterns mean some weakness […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Monitor Global steel prices, as measured by the CRUspi index, have increased for the 10th consecutive month, gaining 9.4% m/m and 116% y/y. This index now stands at 301.1, a new record high. This index continues to be supported by higher finished steel prices across all regions. […]
This report examines the import share of sheet, plate, long and tubular products. As of October 2020, imports’ share of total sheet products was 11.8 percent, down from 16.6 percent in May and from a recent high of 22.9 percent in 2015. The import share of HRC has been below 10 percent since January 2019, […]
By CRU Prices Analyst Estelle Tran, from CRU’s Global Steel Trade Service U.S. steel service center inventories continue to remain low in terms of material in stock, as many buyers reported that they cannot secure all the sheet steel they require. Steel Market Update, which is owned by CRU, reported service centers carried 51.3 shipping […]
We welcome Michael Cowden to Steel Market Update next week as the guest speaker for our SMU Community Chat. The webinar will be held on Wednesday, Jan. 13, at 11 a.m. ET. The webinar is free to anyone who is interested in the flat rolled and plate steel markets. Joining Michael will be SMU President […]
Steel Market Update is pleased to announce that veteran steel reporter Michael Cowden has become the newest member of the Steel Market Update team. Michael has joined SMU as Senior Editor where he will bring his experience reporting on flat rolled and plate markets, steel pricing, news and steel-related human-interest stories. “Michael Cowden is well respected within […]
Steel Market Update is pleased to announce that on Jan. 4, 2021, Michael Cowden will become the newest member of the Steel Market Update team. Michael will join SMU as Senior Editor where he will bring his experience reporting on flat rolled and plate markets, steel pricing, news and steel-related human-interest stories. “Michael Cowden is […]
Steel Market Update is pleased to announce that on Jan. 4, 2021, Michael Cowden will become the newest member of the Steel Market Update team. Michael will join SMU as Senior Editor where he will bring his experience reporting on flat rolled and plate markets, steel pricing, news and steel-related human-interest stories. “Michael Cowden is […]
Steel Dynamics announced leadership appointments for its new Sinton Mill, Columbus Flat Roll Steel Division and a new position for SDI’s flat roll steel metallics strategy. Dennis Black will become the General Manager of the Southwest-Sinton Flat Roll Division, effective Feb. 1, 2021. Black will be responsible for operations at the new Sinton Texas Flat […]
After reaching bottom in June, due largely to the global pandemic, mill shipments and supply of sheet products have since maintained a slow but steady upward trajectory. This analysis is based on steel mill shipment data from the American Iron and Steel Institute (AISI) and import-export data from the U.S. Department of Commerce. The analysis […]
Editor’s note 11/17/20: The data in the “Supply Tons YTD” column on Table 3 didn’t populate correctly, and therefore, was in error. Table 3 has now been updated accordingly. Mill shipments and supply of sheet products continue to see slight yet steady growth since reaching bottom in June. This analysis is based on steel mill […]
Growing up I was a bit of a history nerd and my original intention was to be a political science major when I entered Hamline University where I went to college. Over time I morphed into a bit of a political nerd, so elections are exciting times for me. They may not be for many […]
By CRU China CEO John Johnson and Economist Yingrui Wang Steel Market Update is pleased to share this Premium content with Executive members. For information on upgrading to a Premium level subscription, email Info@SteelMarketUpdate.com. China’s Five-Year Plan (FYP) is a key guide to the strategic direction of China. In this Insight we explain the significance […]
By CRU Principal Analyst James Campbell, from CRU’s Long Products Monitor Most long product prices around the world increased this month as the recovery in demand continues. For some markets and products, the increase in supply has been outpaced by demand. Wire rod remains the strongest product right now as the increase in construction activity […]
By CRU Principal Analyst Josh Spoores and Senior Analyst Ryan McKinley, from CRU’s Steel Monitor Strong underlying demand continues to provide substantial support to finished steel prices in the USA. Sheet prices have risen at their quickest pace since CRU started tracking them and, while there was little change m/m for long products, mills have […]
By CRU Principal Analyst Josh Spoores and Senior Analyst Ryan McKinley, from CRU’s Steel Monitor Strong underlying demand continues to provide substantial support to finished steel prices in the USA. Sheet prices have risen at their quickest pace since CRU started tracking them and, while there was little change m/m for long products, mills have […]
Editor’s note 11/3/20: Some of the data as originally published in Table 1 was incorrect due to a spreadsheet error (specifically the change in shipments 3M Y/Y column). The table has been updated with the correct information below. Mill shipments and supply of sheet products have turned, albeit slightly, since reaching bottom in […]
By CRU Principal Analyst Josh Spoores, from CRU’s Steel Monitor Reflecting a basket of finished steel prices, CRU’s global finished steel CRUspi reached 162.9, its highest level since May 2019. This indicator, which covers Asia, Europe, and North America, increased 5.2% m/m and is now up 9.9% y/y, the first y/y increase since November 2018. […]
Resilient construction demand enabled Commercial Metals Company to weather the COVID-19 crisis without disruption to productivity. CMC’s fourth-quarter FY 2020 earnings totaled $67.8 million, a 6.5 percent increase from the third quarter. Consolidated net sales totaled $1.4 billion, with sequential increases in both the North America and Europe segments. Net sales for the year reached […]
By CRU Senior Analyst Ryan McKinley, from CRU’s Steel Metallics Monitor The CRU metallics price indicator (CRUmpi) was unchanged m/m in October at 225.6 following large price increases the prior month. Supply in many markets became more available as prices rose, and this helped prevent additional upside pressure. For November, market sentiment is that prices […]